Latest Labor economy News

FILE - In this Jan. 3, 2020 file photo, the Wall St. street sign is framed by American flags flying outside the New York Stock Exchange in New York.  Stocks are falling early on Wall Street Thursday, Sept. 17,  as the late selling from the previous day carries over.  (AP Photo/Mary Altaffer, File)

Soaring wealth during pandemic highlights rising inequality

Sep. 21, 2020 2:56 PM EDT

WASHINGTON (AP) — Americans' household wealth rebounded last quarter to a record high as the stock market quickly recovered from a pandemic-induced plunge in March. Yet the gains flowed mainly to the most affluent households even as tens of millions of people endured job losses and shrunken incomes. The...

The crescent moon sets behind the Commerzbank building in Frankfurt, Germany, late Saturday, Sept. 19, 2020. (AP Photo/Michael Probst)

Public sector strikes to hit Germany next week over wages

Sep. 20, 2020 9:44 AM EDT

BERLIN (AP) — Public sector workers in Germany will start staging short-term warning strikes after the latest round of wage negotiations failed to produce an agreement, their union said Sunday. The Ver.di union, which represents around 2.3 million federal and local employees, said strikes will start...

South Korean K-pop group BTS members salute to their national flag during a ceremony marking the National Youth Day at the presidential Blue House in Seoul, South Korea, Saturday, Sept. 19, 2020. (Lee Jin-wook/Yonhap via AP)

The Latest: South Korea's daily virus total drops slightly

Sep. 19, 2020 10:30 PM EDT

South Korea __ South Korea’s new coronavirus tally has fallen below 100 for the first time in more than a month, as the country’s recent viral resurgence is gradually easing. The Korea Disease Control and Prevention Agency said Sunday that the newly counted 82 cases took the country’s total...

Indian passengers queue up to test for COVID-19 at a facility erected at a railway station to screen people coming from outside the city, in Ahmedabad, India, Friday, Sept. 18, 2020. India's coronavirus cases jumped by another 96,424 in the past 24 hours, showing little sign of leveling. India is expected to have the highest number of confirmed cases within weeks, surpassing the United States, where more than 6.67 million people have been infected. (AP Photo/Ajit Solanki)

The Latest: U of Colorado shifting students for virus cases

Sep. 18, 2020 7:04 PM EDT

DENVER — The University of Colorado has forced some students to move out of their dorms to create more isolation housing for students with coronavirus infections as case numbers continue to increase at the Boulder campus. The Denver Post reported that the university said in an email to affected students...

FILE - In this July 18, 2020 file photo a closed sign hangs in the window of a barber shop in Burbank, Calif. California's unemployment rate has fallen to 11.4% in August. The Employment Development Department says the state added 101,900 jobs in August. Most of those were government jobs, including temporary positions for the U.S. Census. California lost more than 2.6 million jobs in March and April because of the coronavirus. (AP Photo/Marcio Jose Sanchez, File)

California jobless rate falls with help of temporary jobs

Sep. 18, 2020 4:28 PM EDT

SACRAMENTO, Calif. (AP) — A raft of temporary government jobs for the U.S. Census boosted California's economy in August as the state added 101,900 jobs as the unemployment rate fell below the high-water mark of the Great Recession for the first time since March. But experts warned that other indicators...

FILE - In this Jan. 3, 2020 file photo, the Wall St. street sign is framed by American flags flying outside the New York Stock Exchange in New York.  Stocks are falling early on Wall Street Thursday, Sept. 17,  as the late selling from the previous day carries over.  (AP Photo/Mary Altaffer, File)

Asia slightly higher despite Wall Street slump, virus fears

Sep. 17, 2020 11:33 PM EDT

TOKYO (AP) — Asian shares were slightly higher Friday despite some investor attention shifting again to the uncertainties in global economies amid the coronavirus pandemic, as reflected in the overnight fall on Wall Street. Japan's benchmark Nikkei 225 was little changed but inched up less than 0.1% in...

FILE - In this Sept. 2, 2020, file photo, a help wanted sign hangs on the door of a Target store in Uniontown, Pa. Hundreds of thousands of Americans likely applied for unemployment benefits last week, a high level of job insecurity that reflects economic damage from the coronavirus outbreak. Economists expect that 850,000 people sought jobless aid, down from 884,000 the week before, according to a survey by the data firm FactSet. (AP Photo/Gene J. Puskar, File)

COVID-19 danger continues to drive joblessness in US

Sep. 17, 2020 1:07 PM EDT

WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell last week to 860,000, a historically high number of people that illustrates the broad economic damage still taking place nine months after the first case of COVID-19 was detected in the U.S. The Labor Department said...

Bridgestone employees fire flares outside the tire factory of Bethune, northern France, Thursday, Sept.17, 2020. Workers protest over the Japan-based company's decision to close the plant and lay off all its nearly 900 workers. Bridgestone argues the factory is no longer competitive globally, but unions and French politicians accused the company of using the virus-driven economic crisis as a pretext for the closure and not investing in modernizing the plant instead. (AP Photo/Michel Spingler)

French unions protest tire factory closure amid virus crisis

Sep. 17, 2020 6:42 AM EDT

PARIS (AP) — Workers protested Thursday at a Bridgestone tire factory in northern France over the company’s decision to close the plant and lay off its nearly 900 workers, accusing management of using the virus-driven economic crisis as a pretext to ruin livelihoods. Japan-based Bridgestone argues...

Amy and Cody Morgan pose in their new warehouse, Friday, Sept. 4, 2020, in Cypress, Texas. The couple, who lost their jobs as corporate executives during the coronavirus pandemic, decided to start a pool servicing company, Pit Stop Pools. (AP Photo/David J. Phillip)

New companies face tough task overcoming pandemic, recession

Sep. 17, 2020 12:37 AM EDT

NEW YORK (AP) — Julie Campbell had to rethink her new wallpaper business before she could sell her first sheet. Campbell launched Pasted Paper in February, but soon after, the coronavirus forced the cancellation of the trade shows where she expected to introduce her wallpaper to prospective retail...

FILE - In this June 30, 2020, file photo Federal Reserve Board Chairman Jerome Powell, reflected in the sneeze guard set up between himself and members of the House Committee on Financial Services, speaks during a hearing on oversight of the Treasury Department and Federal Reserve pandemic response on Capitol Hill in Washington.  The Federal Reserve adjusted its inflation target to seek price increases above 2% annually, a move that will likely keep interest rates low for years to come.  The Fed on Wednesday, Sept. 16,  also left its benchmark short-term rate unchanged at nearly zero, where it has been since the pandemic intensified in March.  (Bill O'Leary/The Washington Post via AP, Pool)

Fed sees rates near zero through 2023, perhaps longer

Sep. 16, 2020 6:55 PM EDT

WASHINGTON (AP) — With the economy still struggling to recover from the pandemic recession, Federal Reserve policymakers signaled Wednesday that their benchmark short-term interest rate will likely remain at zero at least through 2023 and possibly even longer. Fed chair Jerome Powell said at a press...